Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights April 2021 Year 2021 This

Disallowance being provision made for warranty expenses - The ...

Case Laws     Income Tax

April 21, 2021

Disallowance being provision made for warranty expenses - The assessee’s warranty provision equally lack in the proper accounting / calculating factors and, therefore, the claim of the assessee is not sustainable. The CIT (Appeals) has rightly rejected the set off of actual warranty expenses on payment basis as well as warranty expenses on payment basis. - AT

View Source

 


 

You may also like:

  1. The assessee failed to substantiate the provision made for freight, material handling charges, and IT support expenses as an allowable expenditure. The assessee merely...

  2. Disallowance of provision of warranty - The provision made by the assessee was ascertained based on the actual expenses incurred on settlement of warranty schemes in...

  3. Provision for warranty expenses computed on basis of past experience and scientific basis is allowable. Assessee applied formula for provision though no past history was...

  4. Disallowance for warranty expenses - assessee is entitled to change the method of accounting with respect to claim of warranty expenses from ‘actual basis’ to ‘provision...

  5. Business expenses claimed under the head of “Provision for Warranty Expenses” - addition u/s 37 - Assessee company has not committed any error in making provisions...

  6. Disallowance on account of provision for expenses made under normal provisions of the Act as well as in the computation of book profits u/s.115JB - The assessee company...

  7. Disallowance of expenses and interest - When the AO required the assessee to furnish the relevant details, it was the assessee who was at fault. - Neither the AO was...

  8. Provision of warranty - accounting policy - the provisions of warranty made by the assessee company was on the basis of the scientific and consistent method - No...

  9. Provision for Warranty - The assessee had not proved the provision of warranty expenses based on any scientific method in such circumstances - Triple test was not passed...

  10. Disallowance of provision for warranty & maintenance expenses - it was for the Revenue to have brought incriminating material/evidences to demolish the basis of...

  11. The assessee bank made provisions for group gratuity and leave encashment by debiting expenses in its books, but these provisions were never treated as real expenses for...

  12. Additions u/s 40A(3) - Payment made in Cash - Since the AO has not doubted the genuineness of the expenses as no such disallowance has been made and the AO has made only...

  13. Mere disallowance of expenses u/s 40A(3) would not invite penalty for concealing or furnishing inaccurate particulars of income. Assessee disclosed all particulars...

  14. The ITAT addressed various issues including disallowance u/s 14A r.w.r.8D, where Revenue challenged deletion of disallowance made by AO. ITAT upheld CIT(A)'s decision,...

  15. Disallowance of claim of Provision for expenses - unascertained liability or not - By belated receipt of bills, the payment only gets postponed, but not the liability...

 

Quick Updates:Latest Updates